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B2Gold: 1Q Output Rises; Fekola On Track For Oct. Start

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B2Gold Corp. (TSX: BTO; NYSE MKT: BTG; NSX: B2G) reports that first-quarter gold production was 132,736 ounces, which was 7,955 ounces above plans and 4,892 ounces higher than the same period in 2016. The company says it is on track to meet its 2017 annual guidance of between 545,000 and 595,000 ounces. Gold revenue of $146.3 million in the January-March period came from sales of 119,937 ounces at an average price of $1,219 per ounce. B2Gold also says Fekola mine construction is on budget and remains three months ahead of schedule for an anticipated Oct. 1 production start. In 2018, with the planned first full-year of production from Fekola, the company currently projects its consolidated gold production will increase to between 900,000 and 950,000 ounces. 

By Allen Sykora of Kitco News; asykora@kitco.com

 

First Majestic: 1Q Output Declines But In Line With Guidance

Thursday April 20, 2017 08:24

First Majestic Silver Corp. (TSX: FR; NYSE: AG; FRANKFURT: FMV; BVM: AG) reports first-quarter silver-equivalent production of 4.3 million ounces, in line with guidance although down from 5.1 million in the same period a year ago. Total production in the January-March period consisted of 2.7 million ounces of silver, 15,095 ounces of gold, 7.5 million pounds of lead and 0.9 million pounds of zinc, the company says. "During the first quarter, total production from our six producing mines met our quarterly guidance expectations," says Keith Neumeyer, president and chief executive officer. "With the renewed investment in underground development and brownfields exploration, we continue to execute on our long-term growth plan to have additional production levels prepared in order to increase throughput rates and head grades at Del Toro, La Parrilla and La Encantada. Our 2017 silver production guidance of 11.1 (to) 12.4 million ounces, or 16.6 (to) 18.5 million silver equivalent ounces, remains unchanged."

By Allen Sykora of Kitco News; asykora@kitco.com

 

Goldcorp Begins Friendly Takeover Bid For Exeter

Thursday April 20, 2017 08:24

Goldcorp. Inc. (TSX: G, NYSE: GG) says the company has formally began an offer to acquire all outstanding shares of Exeter Resource Corp. (TSX: XRC, NYSE-MKT: XRA, Frankfurt: EXB). The two companies announced an agreement for the takeover in late March, with the move supported by the board of directors of Exeter. Goldcorp says Exeter shareholders will be entitled to receive 0.12 of a common share of Goldcorp for each Exeter share, which represents a premium of 67% based on Goldcorp's and Exeter's closing prices on the Toronto Stock Exchange on March 27, the day prior to the acquisition announcement. The deal puts the value of all Exeter shares at $247 million. Goldcorp says its offer will be open until 5 p.m. EDT on May 26, unless otherwise extended or withdrawn.

By Allen Sykora of Kitco News; asykora@kitco.com

 

Centerra Gold: Kumtor Mine Receives Discharge Permit

Thursday April 20, 2017 08:24

Centerra Gold Inc. (TSX: CG) reports that the Kumtor operation, located in the Kyrgyz Republic, has received its 2017 maximum allowable discharge permit, which allows for the discharge of treated effluent from its tailings management facility starting in the spring. Kumtor now has all the necessary permits and approvals in place for continuous operations throughout 2017, Centerra says.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in precious metal products, commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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